Originated in New Britain, CT, by two sexy girls, drunk at the bar:
Noun: An affectionate name given to the group of homosexual man-friends had by a single woman.

Girl 1: "I looove my gays!"
Girl 2: "I know you do. They are awesome..."
Girl 1: "Yes they are. I love having a gaggle of gays around me all the time. I feel pretty..."
Girl 2: "Then would you call that a 'gaygle', then...?"
Girl 1: "YES YOU WOULD! I love it. It is what they are going to be called from now on."
Girl 2: "Excellent. Salut!"
Girl 1: "Cheers!"